The world of a successful sales development representative depends heavily on capitalizing on working within a thriving industry. However, finding the right field that best fits your outbound prospecting and lead processing skills requires more than merely becoming employed in lucrative or highly populated locations. It’s a combination of searching for an industry that provides you with a high volume of close proximity resources, as well as evaluating company traits that best suit your areas of sales expertise. Check out these industry recommendations where you can flourish as a sales development representative, and quickly move up the ranks to achieving all your career goals:
Medical and Pharmaceutical
If there’s one industry that you can depend on for stability and consistency, it’s definitely the medical and pharmaceutical field. In the pharmacy world, the list of lucrative companies is practically infinite, and the recent implementation of innovative technology within the industry has given new dynamics to the sales element of the job. Meanwhile, new software and technology is the epicenter of the medical device industry, and the list of successful medical device companies within the industry rivals the pharmaceutical field. The only real setbacks for working in both markets can be the frequency of travel, as well as being intensely knowledgeable about the industry, from medical terms to pharmaceutical ingredients. However, the median salary of a medical device sales job is nearly $150,000 a year, according to MedReps.com, so learning the in’s and out’s of this industry is certainly worth the extra effort.
According to the Bureau of Labor Statistics, there are more than 340,000 people working as financial service sales representatives, and the job outlook for the next decade is expected to increase by 10 percent, faster than the national average. While financial services can be a vague term for an industry with thousands of companies in the U.S. alone, being a sales development representative in this field doesn’t mean you have to live like a reckless Wall Street broker. After exceeding the run of the mill expectations of reviewing investment strategies with clients or cold calling prospects, the room to grow in this field is sky high, and you can ultimately find yourself working for billion dollar companies managing massive accounts, every day.
While the software industry is arguably the most competitive field of them all, there’s no telling how many ways you can break into this rapidly growing trade on the sales side of the fence. From IBM, Microsoft, to Hewlett Packard, the software industry boasts an incredible lineup of who’s who in billion dollar companies. Depending on who your employer is, the entry level base salary for software sales representatives tends to fluctuate between $50,000 to $80,000. But after a few years of experience and working with high priced services, a software sales representative can make six figures or more in no time. Software is an industry where those able to retain and explain complex information quickly and efficiently to a wide variety of clients that may not comprehend all the computer jargon will thrive.
Of course, the real estate industry is certainly the most unpredictable field, as housing prices can surge and purge year after year. However, this is a trade that’s consistent on the sales end of things because in the end, everyone needs a place to live or operate in. The projected compensation within the real estate industry is extremely high, and that may not even factor in commission rates. On average, beginning salaries for real estate representatives can reach up to $80,000. Arranging property leases and providing clients with estimated market value are the main tools of the trade, and your success will depend on your ability to judge the market and prosperity of potential clients.
In the world of sales development, the successful SDR will be most successful by capitalizing on a thriving industry. If you’re looking to reach success and meet your career goals as a sales development representative, you’d be wise to search for employment in any of the above job markets. Best of luck in your job hunt!
If you’re interested in learning more about the role of a sales development representative, check out the OppSource blog, where we offer content about everything related to the modern-day SDR and the world of sales.